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NAB joins A$70m funding round for digital mortgage startup Athena

NAB joins A$70m funding round for digital mortgage startup Athena

NAB Ventures has joined a A$70 million Series C funding round for Australian digital home loan platform Athena Home Loans.

NAB was joined by a host of VCs, including Square Peg, Airtree, Hostplus, AustralianSuper, Salesforce Ventures and Apex Capital in the round.

Athena was founded in 2017 by former NAB bankers bidding to shake up the Australian mortgage market and take on the nation's biggest lenders.

The company aims to steer customers away from the big banks by promising fast online approval for loans backed directly by Superannuation funds.

In typical Aussie fashion, the firm proudly states "F*** fees" on its website, claiming that its customers save an average of A$60,000 over the life of a loan.

Since launching its refinancing offering this February, Athena says it has written more than A$500 million in loans. The new funding will help it to start providing loans for home purchases.

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